What are your thoughts on revenge trading? - page 4.

Yawa2020

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Quote from: Husires on December 31, 2022, 01:44:09 PM

In any case, I advise you to leave your feelings away when trading. In all cases, there is profit and loss in trading, which means that loss is part of the process of profit.
Trading revenge and trying to trade in order to please your hormones will lead you to more losses.

I don't think it is possible to trade absolutely without attaching feelings. Emotions can be reduced to minimal stage but can not be absolutely do away with. Talking about revenge trade, it some time work out for me and some time it back fire and leading to additional lose. Daily limit can be helpful in controlling your betting attitude.

Questat

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Quote from: Obari on December 31, 2022, 12:24:47 PM

~ Do you think people intentionally go into revenge trading or is is just emotional?

Many, a lot of traders are chasing their losses and they will take putting in more funds as they'll think it could help to recover. Unfortunately, it was not the solution as it only makes you fail and lose more.

Quote

~ what will you advise someone making series of losses ?

Instead of thinking about "revenge", better think about how to improve our knowledge and skills. Too much emotion is not good in trading as it will lost your focus and market understanding. We can recover them gradually if we are consistent in our strategies and remain calm.

Adbitco

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Revenge trading is the worst thing a man could do why because he is trading fully with annoyance and with all possibility to recover all lost at end endangering himself or herself the more. The simple analogy there is when you trade and it happens you always losing, don't trade anymore look for possible best solution either you are trading with fear and anxiety, this could be a reason that possibly wanting to be rich over a single trade at this point you stand all chance of losing your funds.
Before going into trading check first if you are mentally, physical suited to start the journey as I know not everyone could withstand the pressure seeing that they are losing big money, don't trade instead go for investment or possibly DCA would likely help compared with trading.

Franctoshi

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Quote from: mvdheuvel1983 on January 04, 2023, 06:07:14 PM

And I think that people who fall victims of this are newbies.

Not necessarily newbies only, even some experience trade fall victim of this because a lose trade always comes with pains or emotion, meaning that you as a trader you definitely would want to recover your loses each time you lose trade , because realistically every trader in the market will always want to win regardless, Except for a trader who has trained him/herself in accepting a lose incurred on the process of trading. This is why emotion has a lot to do when it comes to trading.

mvdheuvel1983

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Revenge trading is akin to revenge gambling. And I think that people who fall victims of this are newbies.
Maybe it is the get-rich-quick syndrome at romances them into thinking that they jump in again after a loss without any tactics or trading strategy and think that they will win.
I have been cautioned several times about this, that the moment I feel the urge to jump back in after a loss is the moment, I should take a break.

Mahanton

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Quote from: so98nn on January 04, 2023, 02:11:03 PM

That is stupid idea. The more you chase your losses the more frustrated you become and the more money you loose in the process. The problem is not with the idea of chasing the losses money but it does not work like the way it is being stated in the op. First of all, no one ever hear about the term revenge trading and you claiming that its in the talks. Thats funny actually. All you can do is "avoid losses or may be "cut your losses" in any given trade. You can then set your BEP (break Even point) which is no profit no loss line for your portfolio (entirely). This is then followed with the strategic trades which can help you keep well about BEP line thus making you profit. In the trading, you don't recover the losses, you keep yourself above BEP to make most of the money out of it, like a passive income stream.

It falls out to be like when you do gamble on which if you do try to chase up your losses then you would be basically be losing up even more because you would really be that desperate.You cant really think up well already just because you had been bothered or boggled up your mind on trying up to break even which is really a must avoided kind of emotion or feeling specially when you are already getting that serious on getting
those losses back.Its better that you should make yourself that still focused on how to make good trades rather than on chasing up your losses which is a no-no when we are dealing with
trading because its a different thing in comparison with gambling which it shouldnt really be treated up the same.

so98nn

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That is stupid idea. The more you chase your losses the more frustrated you become and the more money you loose in the process. The problem is not with the idea of chasing the losses money but it does not work like the way it is being stated in the op. First of all, no one ever hear about the term revenge trading and you claiming that its in the talks. Thats funny actually. All you can do is "avoid losses or may be "cut your losses" in any given trade. You can then set your BEP (break Even point) which is no profit no loss line for your portfolio (entirely). This is then followed with the strategic trades which can help you keep well about BEP line thus making you profit. In the trading, you don't recover the losses, you keep yourself above BEP to make most of the money out of it, like a passive income stream.

kawetsriyanto

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Quote from: Obari on December 31, 2022, 12:24:47 PM

~ what is your take on revenge trading?

IMO, fundamentally, there is no term for "revenge trading". You can't chase your losses with revenge trading, it only leads you to more losses. If you got losses, you need to evaluate your trading strategies. You also need to improve your knowledge and skills. It is actually what you need when you got losses continuously. You won't make your trading better if you never evaluate it, dude. Wink

Quote from: Obari on December 31, 2022, 12:24:47 PM

~ Do you think people intentionally go into revenge trading or is is just emotional?

Yes. It's simply the wrong way of expressing emotion. People who do revenge trading probably make riskier for their funds. I don't see a better opportunity to recover their losses, it even leads to more and more losses.

Quote from: Obari on December 31, 2022, 12:24:47 PM

~ what will you advise someone making series of losses ?

I've explained above:
- Evaluate trading strategies
- Improve knowledge and skills
- Strengthen your analysis of the market situation

goldkingcoiner

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Quote from: Obari on December 31, 2022, 12:24:47 PM

Of recent, I've come across alot of people talking about traders chasing their losses which at the end, leads to possible blowing of accounts.
I understand that people trade with expections and most times when this expectations aren't met, they try as much as possible to chase after their losses and my questions are
~ what is your take on revenge trading?
~ Do you think people intentionally go into revenge trading or is is just emotional?
~ what will you advise someone making series of losses ?

^

I think there is a word for this and it also exists in the world of gambling. I have no idea what the word officially is, but it might be "frustration gambling". When you gamble too much and things are not going your way, you get frustrated and more easily lose your money in this psychological state. Its never good to make decisions when one is angry or happy. Decision-making needs a sober, neutral mind.

But I have traded out of frustration before and lost a lot of money. Once again goes to show when trading, leave your emotions at home. Roll Eyes

ShowOff

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If you are trading revenge, then it means you are gambling with him. I often hear about revenge gambling, it is done because the gambler wants to recover losses but how is it different from revenge trading? For me both are the same, there is no difference.

You'll probably get the revenge investment idea after this. But I honestly would rather do it if it were bitcoin. My point is, if you previously bought $30K of bitcoin, then get your revenge now by investing more at $16K. You may get worth it return and it may allow you to recover your losses. It was great revenge.

stomachgrowls

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Quote from: fennic on January 03, 2023, 11:55:10 AM

Quote from: Obari on December 31, 2022, 12:24:47 PM

Of recent, I've come across alot of people talking about traders chasing their losses which at the end, leads to possible blowing of accounts.
I understand that people trade with expections and most times when this expectations aren't met, they try as much as possible to chase after their losses and my questions are
~ what is your take on revenge trading?
~ Do you think people intentionally go into revenge trading or is is just emotional?
~ what will you advise someone making series of losses ?

I have never heard of anything Regarding Revenge trading. I have seen that some people who use a lot of High leverage end up using blowing off their accounts. And that ahs been happened to me 2 times in almost 2 years. And I ended up loosing so much money that I saved.
And when I lost such money than I was very demotivated and I wanted to cover my loss by taking loans and also that would have gone too and I might be depressed too. So that's why do not use such higher leverages in our life.

On the term itself about revenge then this is some sort of impulsive trading which it do acts out the same on the time that you do chase up your losses when you do gamble, this is the same thing on which you are really that desperately trying out to break even yourself of those losses that you do have encountered on your trades which its not really something that recommendable because it would really just make things even more
worst and this is why you should really be that careful and having that good control towards your emotions. Always set out limits and really be having that risks management because you would really be seeing
yourself getting fucked up some more if you do let yourself that too reactive whenever you do make up some loss.Its much better if you do reassess up situation on where did you go wrong.

palle11

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Quote from: Obari on December 31, 2022, 12:24:47 PM

~ what is your take on revenge trading?

It is not good to trade in wanting to revenge on your loses because you will make more mistakes.

Quote from: Obari on December 31, 2022, 12:24:47 PM

~ Do you think people intentionally go into revenge trading or is is just emotional?

It is both. The emotion of losing your trade or money push you to go for revenge in trying to regain your lost money. Well whether it is intentional, it is caused by the emotion.

Quote from: Obari on December 31, 2022, 12:24:47 PM

~ what will you advise someone making series of losses ?

Learning more skills will help rather than to keep throwing in funds to the whales. It is better to stop for sometime and go into more strategy building.

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Quote from: fennic on January 03, 2023, 11:55:10 AM

I have never heard of anything Regarding Revenge trading. I have seen that some people who use a lot of High leverage end up using blowing off their accounts. And that ahs been happened to me 2 times in almost 2 years. And I ended up loosing so much money that I saved.

Yeah, leverage trading is high risky one and what OP is demonstrating here is revenge which is different from leverage still risk-wise same. I mean revenge is kind of chasing your losses like trying for quick recovery without proper preparation. In trading we should not rush to open trade regardless of a fresh trade or a trade for recovering losses. If we open a trade after proper analysis then there will be no room for revenge.

Quote from: TheUltraElite on January 03, 2023, 10:56:11 AM

If you lost money on one trade, considering it to be a spot trade, you defenitely have a chance of getting it back but it will cost time.

Lack of patience lead to losses even in spot trading. Rushing to make profits leads to losses and lands into recovery phase where the actual 'revenge' starts.

fennic

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Quote from: Obari on December 31, 2022, 12:24:47 PM

Of recent, I've come across alot of people talking about traders chasing their losses which at the end, leads to possible blowing of accounts.
I understand that people trade with expections and most times when this expectations aren't met, they try as much as possible to chase after their losses and my questions are
~ what is your take on revenge trading?
~ Do you think people intentionally go into revenge trading or is is just emotional?
~ what will you advise someone making series of losses ?

I have never heard of anything Regarding Revenge trading. I have seen that some people who use a lot of High leverage end up using blowing off their accounts. And that ahs been happened to me 2 times in almost 2 years. And I ended up loosing so much money that I saved.
And when I lost such money than I was very demotivated and I wanted to cover my loss by taking loans and also that would have gone too and I might be depressed too. So that's why do not use such higher leverages in our life.

TheUltraElite

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Quote from: Obari on December 31, 2022, 12:24:47 PM

~ what is your take on revenge trading?

I am hearing the term for the first time here so I will go with my gut feeling and what I understood after reading some of the replies here, that you are referring to something like chasing losses in gambling. I would not recommend that at all.

As a trader you need to have the composed mindset and not the reckless one. If you lost money on one trade, considering it to be a spot trade, you defenitely have a chance of getting it back but it will cost time. This decision making improves with practice. If trading on anything other then Spot, then you are gambling anyway, in which case I dont have anything to say.

Quote

~ Do you think people intentionally go into revenge trading or is is just emotional?

Maybe emotional, but like I said, I am hearing it for the first time, maybe I was ignorant.

Quote

~ what will you advise someone making series of losses ?

Stop and see where you went wrong. Series of losses is not possible in Spot trading per see unless you bought shitcoins everyday. You are likely talking about leverage or margin Huh

Strongkored

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Quote from: Obari on December 31, 2022, 12:24:47 PM

Of recent, I've come across alot of people talking about traders chasing their losses which at the end, leads to possible blowing of accounts.
I understand that people trade with expections and most times when this expectations aren't met, they try as much as possible to chase after their losses and my questions are
~ what is your take on revenge trading?
~ Do you think people intentionally go into revenge trading or is is just emotional?
~ what will you advise someone making series of losses ?

Why revenge with a losing trade, trading is not boxing, MMA or UFC, which requires revenge if you lose, can ask the promoter to do a rematch.
When traders experience defeat, what must be done is to evaluate what caused it, which is why trading journals are sometimes important to make.
If there is a trader who takes revenge or tries to chase win to cover previous losses, it proves that he is using funds that cannot afford to lose and emotions will overwhelm him and it is very likely that he will experience bigger losses.
Evaluate and pause before starting a new step and maybe with a new strategy too, trading should be done with a clear mind

Jody.Drummer

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Quote from: Fatunad on January 02, 2023, 03:55:51 PM

Quote from: Jody.Drummer on January 02, 2023, 02:12:43 PM

Believe in revenge trading as you say it will make the losses even bigger. Why? because they are trying to recover losses as long as they are losing in trading, and that means they are still controlled by high emotions because of the disappointment of what has happened to their money when trading before. I say this because revenge is a negative context, as I said above.
I think everyone wants to get their money back after losing money, but there is a strategy to be followed. Remain calm and do it slowly, because if we do it in a hurry, it will not be the profit that we get, but the losses that will be even greater.

When you are on the conditions on which you are already making use of your emotion in towards your decision then it would really be resulting into that desperation and you wont
really be already following those analysis that you have made out just because you are already tolerating your emotion and the ones who would be in control which is something not really that recommended
for you to do so. Losses are inevitable since market is unpredictable but doesnt mean that you should really make yourself that impulsive because it could really stir
up your mind for whatever decisions you had made out earlier this is why its needing up that self control when it comes to this instance.

The intention to return profits is indeed very good but conditions like this clearly cannot be done when you are involved in a condition where emotions and want revenge quickly because in this case self-control is the most important thing because when we are only fixated on emotions sometimes we cannot pay attention this small detail becomes the scourge of damage where you are only fixated on wanting to return your losses so you don't really care about the risk of another defeat.
Stay calm, because we can't do something if we can't control our own emotions.

Kelvinid

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Revenge? We are putting anger and pressure into our minds but it is never a good idea OP, you are adding more chances of losing than making a profit from it.
In trading, we don't have to chase our losses but rather find where we are wrong. In this way, we can find a solution that helps us to get back what we lose in the fast and preventing not to happen again. It was not revenge, we take action to have a better output. If revenge is always on our minds, I don't think we can go further.

uneng

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Revenge trading is the same as revenge gambling. The concept, causes and effects are almost the same, although in trading addiction might not be the exact reason and recurrency is likely to be lower than in gambling. What happens in trading is that people watch those gurus from Youtube and Telegram groups encouraging them to start trading and acquiring the products they sell, so people really think trading is a safe source of income towards the so desired independent life. When they realize it's not that simple, and that losses are not only possible, but also likely, they may feel despaired to recover what they have already invested and lost. So they appeal to revenge trading.

Hopefully, after finding themselves in a situation like that once is already enough for them to learn the lesson and never try again.

Issa56

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Quote from: Obari on December 31, 2022, 12:24:47 PM

Of recent, I've come across alot of people talking about traders chasing their losses which at the end, leads to possible blowing of accounts.

If you endup chasing your lose in a trade, then you might endup losing more money, because their will be pressure on you, which at the end you might end up taking a wrong step.

Quote from: Obari on December 31, 2022, 12:24:47 PM

~ what is your take on revenge trading?

Whenever you trade and you lose, don't try to revenge, just close your trade at that moment, or close your trade for that day and come back later, if you are coming back you might just trade another coin separately.

Quote from: Obari on December 31, 2022, 12:24:47 PM

~ what will you advise someone making series of losses ?

If you are making series of losses in a trade, one of the things you should do is to check your trading strategy, something might be wrong, also if you can't trade, you are just buy a coin and Hold.

Topic: What are your thoughts on revenge trading? - page 4. (Read 780 times)